The Vision Fund invested $865m into Katerra, a real estate tech company.
Editor’s Remarks: Katerra designs, sources materials, manufactures components and builds properties at its Phoenix, Arizona factory. The startup currently has an order book of over $1.2bn, and has a plan in place to scale up its manufacturing operations. Katerra’s CEO Michael Marks founded the company after observing how fragmented and low tech the construction industry is. SoftBank has been active in the property market, and last year acquired Fortress Investment Group, which had an extensive portfolio of real estate assets. SoftBank Investment Advisers managing director Jeffrey Housenbold will join Katerra’s board as part of the deal.
Read more on SoftBank:
More on Companies
EU Fines Qualcomm €997m for Abusing Market Position
The European Commission has fined chipset manufacturer Qualcomm €997m for infringing anti-trust laws and abusing its dominant market position. In...
Employees: The Culprits of Security Breaches?
A senior sales executive in a medium-sized company is having a business meeting with a third party at a café...
The Long-Term Danger of Short-Term Shareholder Thinking
The ideology of shareholder supremacy has been around for more than four decades now. It was popularised in the 1980s...